Where Do All Our Unclaimed Shares Go? - Price: Rs. 0

We can learn more about unclaimed shares in this post.

Definition of Unclaimed Shares
In plain words, it means ‘shares that are not yet claimed’.
By definition, unclaimed shares are shares which are owned by a shareholder. However, it is stated as unclaimed shares because the shareholder missed/ forgot to claim ownership of the shares. In this case, you can call the shares as unclaimed shares.
However, shares become unclaimed if the shareholder dies without a will, with the shares not inherited.
In both cases, the shares are transferred to the IEPF authority (more on this in the next point).
Where Are Unclaimed Shares Transferred
As mentioned earlier, unclaimed shares need protection. Although it is held by the company in the trust of the shareholder, the shares should be managed with organizational attention and security.
Introducing IEPF and Its Purposes
The Investor Education and Protection Fund was created by the central government in India to protect unclaimed shares from ownership-related issues.
IEPF holds the shares in the trust of the shareholder. It doesn’t change ownership. If you haven’t claimed your shares (or it has not been so) for 7 consecutive years from the company, then the shares get transferred to the IEPF authority.
The Process by Which Share Is Transferred to IEPF
By law, the company, the share which you own as a shareholder must transfer the unclaimed shares to the IEPF if the claimant didn’t claim the shares for 7 years.
It is therefore the company that transfers shares to the IEPF authority. It is your job to claim it.
How to Check Status of Your Shares that Are Unclaimed
You’ll need to click on the IEPF website, where you can find a tab named ‘Claim Refund’. Clicking on this, you have to enter your details, which takes you to the list of unclaimed shares, transferred to the IEPF authority.
Claiming the shares might sound simple and it is something you would look for at this stage. However, it’s made up of a series of intricate and complex steps, which you need to complete to get back the shares you deserve.
P.S.: If you can’t locate your shares with IEPF, then you might want to contact the nodal officer for more information.
To Conclude: How Infiny Solutions Might Help You with Your Unclaimed Shares
From signature issues, to duplicate share certificate concerns, to issues in your demat account or document verification, anything can act as an impediment in the way of the restoration of your unclaimed shares.
We can help you out.
Our experts can guide you in the right and the quickest route for your IEPF Unclaimed Shares recovery with their expertise and years of experience in this field.
Let us know if you want our professional assistance anytime soon.